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I agree that Angel list is a positive game changer and a disrupter. Naval and Nivi are democratizing the matchmaking and have created a phenomenal option for entrepreneurs. Though as an entrepreneur I think you guys are all totally wrong when it comes to social proof. "Spray and Pray" is partially responsible that social proof plays such an important role. Humans have not really changed - social proof is part of life. BUT....for any sophisticated investor or entrepreneur..... Socialproof simply KILLS Innovation. thinkers, doers and contrarians change society, disrupt and build the foundation of the future. Making decisions is never easy, but referring them to others via social proof is not a solution. Neither for the Entrepreneur nor the Investor. I would like to argue it is REALLY bad for the entrepreneur that receives the investment, as the sheep mentality will continue during the ups and downs building his business and if you simply have followers, the whole concept of smart money is out the window. Disruption comes from Innovation. The smartest guys I have meet don't give a damn about social proof. They have a toolset of experience, knowledge and gut in a specific sector, they are not generalists and they use their instincts and understanding to vet an idea. Thanks for the sunday amusement VC's & Angels. I understand now why social proof plays such a big role in your life's (-;
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Feb 27, 2011